Sneha after her course in designing started taking jobs for designing logo, wedding cards, pamphlets, advertisements...

 

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Sneha after her course in designing started taking jobs for designing logo, wedding cards, pamphlets, advertisements etc. Her work became quite popular and she had continuous orders. She decided to have a separate office with some staff to help her. She was suggested by her father to have a business organization and run it properly. (a) Her business was constantly growing and she was facing problems with handling all orders and finishing them on time. Her friend Pooja, who was also a designer, proposed to join her as a business partner. Sneha was confused whether to continue her business as a sole trader or convert it into a partnership firm. As a true friend of Sneha, you are required to suggest the advantages and disadvantages of a partnership business. (two each) (b) Sneha and Pooja decide to form a partnership firm and do the business together. Suggest them on the following issues with proper reasons. (i) What kind of liability will they have and how will it affect them? (ii) How is 'Particular Partnership' different from 'Partnership at Will' ? (iii) Is it necessary for them to have an agreement and register their firm? Sneha after her course in designing started taking jobs for designing logo, wedding cards, pamphlets, advertisements etc. Her work became quite popular and she had continuous orders. She decided to have a separate office with some staff to help her. She was suggested by her father to have a business organization and run it properly. (a) Her business was constantly growing and she was facing problems with handling all orders and finishing them on time. Her friend Pooja, who was also a designer, proposed to join her as a business partner. Sneha was confused whether to continue her business as a sole trader or convert it into a partnership firm. As a true friend of Sneha, you are required to suggest the advantages and disadvantages of a partnership business. (two each) (b) Sneha and Pooja decide to form a partnership firm and do the business together. Suggest them on the following issues with proper reasons. (i) What kind of liability will they have and how will it affect them? (ii) How is 'Particular Partnership' different from 'Partnership at Will' ? (iii) Is it necessary for them to have an agreement and register their firm?

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a Ad vant ages of a Partnership Business 1 Partners hips can pool resources and talent to create a more powerful business entity 2 Partners hips can h... View the full answer